Best Buy Co Inc (NYSE:BBY) Quarterly Sentiment Change Report

April 26, 2018 - By Ellis Scott

Best Buy Co., Inc. (NYSE:BBY) Logo

Sentiment for Best Buy Co Inc (NYSE:BBY)

Best Buy Co Inc (NYSE:BBY) institutional sentiment increased to 0.86 in 2017 Q4. Its up 0.10, from 0.76 in 2017Q3. The ratio is better, as 199 investment professionals opened new and increased stock positions, while 232 reduced and sold stakes in Best Buy Co Inc. The investment professionals in our partner’s database reported: 233.61 million shares, down from 246.28 million shares in 2017Q3. Also, the number of investment professionals holding Best Buy Co Inc in their top 10 stock positions increased from 5 to 6 for an increase of 1. Sold All: 34 Reduced: 198 Increased: 124 New Position: 75.

Best Buy Co., Inc. operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company has market cap of $21.42 billion. The firm operates through two reportable divisions, Domestic and International. It has a 23.22 P/E ratio. The Company’s stores provide consumer electronics, such as home theater, home automation, digital imaging, health and fitness, and portable audio products; computing and mobile phones, including computing and peripherals, networking, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, such as gaming hardware and software, movie, music, technology toy, and other software products.

The stock increased 1.88% or $1.4 during the last trading session, reaching $75.78. About 1.42M shares traded. Best Buy Co., Inc. (NYSE:BBY) has risen 46.62% since April 26, 2017 and is uptrending. It has outperformed by 35.07% the S&P500.

Analysts await Best Buy Co., Inc. (NYSE:BBY) to report earnings on May, 24. They expect $0.74 EPS, up 23.33 % or $0.14 from last year’s $0.6 per share. BBY’s profit will be $209.21M for 25.60 P/E if the $0.74 EPS becomes a reality. After $2.42 actual EPS reported by Best Buy Co., Inc. for the previous quarter, Wall Street now forecasts -69.42 % negative EPS growth.

Mount Lucas Management Lp holds 4.48% of its portfolio in Best Buy Co., Inc. for 378,592 shares. Minneapolis Portfolio Management Group Llc owns 406,253 shares or 3.79% of their US portfolio. Moreover, Gyroscope Capital Management Group Llc has 3.28% invested in the company for 104,653 shares. The New York-based Lodge Hill Capital Llc has invested 3.06% in the stock. Capital Growth Management Lp, a Massachusetts-based fund reported 740,000 shares.

Since January 1, 0001, it had 0 insider purchases, and 29 sales for $53.31 million activity.

Best Buy Co., Inc. (NYSE:BBY) Ratings Coverage

Ratings analysis reveals 25% of Best Buy Co’s analysts are positive. Out of 16 Wall Street analysts rating Best Buy Co, 4 give it “Buy”, 2 “Sell” rating, while 10 recommend “Hold”. The lowest target is $33.0 while the high is $87. The stock’s average target of $72.64 is -4.14% below today’s ($75.78) share price. BBY was included in 20 notes of analysts from November 6, 2017. The stock of Best Buy Co., Inc. (NYSE:BBY) has “Neutral” rating given on Friday, March 2 by UBS. The stock of Best Buy Co., Inc. (NYSE:BBY) has “Buy” rating given on Monday, November 6 by Piper Jaffray. The stock has “Equal-Weight” rating by Morgan Stanley on Friday, March 2. The stock of Best Buy Co., Inc. (NYSE:BBY) earned “Hold” rating by Credit Suisse on Monday, March 5. Jefferies maintained it with “Hold” rating and $74.0 target in Tuesday, February 27 report. Loop Capital Markets maintained it with “Buy” rating and $83.0 target in Thursday, March 1 report. The company was maintained on Monday, February 26 by Wedbush. Citigroup maintained Best Buy Co., Inc. (NYSE:BBY) on Friday, February 16 with “Neutral” rating. RBC Capital Markets maintained it with “Hold” rating and $57.0 target in Friday, November 10 report. Deutsche Bank maintained Best Buy Co., Inc. (NYSE:BBY) on Friday, November 17 with “Hold” rating.

Best Buy Co., Inc. (NYSE:BBY) Institutional Positions Chart

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